Making the Most of the U.S. Bank Cash+ Visa Card

The U.S. Bank Cash+® Visa Signature® Card puts several unique twists on the concept of cash-back cards with rotating bonus categories.

It earns 5% back in two bonus categories on up to $2,000 in combined purchases per quarter, and you get to choose those two categories from a list of several (see below). Moreover, you'll earn an unlimited 2% back in one everyday purchase category, which you also choose from a list. All other non-bonus-category purchases earn 1% back.

That may sound either exhilarating or exhausting, depending on your personality. But for optimizers who don't mind a little legwork, the $0-annual-fee U.S. Bank Cash+® Visa Signature® Card can be a lucrative option. Here's how to make the most of it.

» MORE: NerdWallet's best cash-back credit cards

Choose bonus categories that suit your spending

Other cards offer 5% back in categories that change each quarter. But unlike the U.S. Bank Cash+® Visa Signature® Card:

• Their quarterly spending caps are lower.

• There's no additional 2% category.

• There's sometimes only one 5% bonus category per quarter.

• You don't get to choose the bonus categories yourself.

That last point is key. With this card, you get to pick the spending categories where you'll earn the highest rates, from a list of a dozen:

Similarly, the 2% "everyday category" gives you a choice among things like gas stations/EV charging stations; grocery stores; or restaurants. And that category doesn't have a spending cap.

Review your budget and choose the categories that best align with your expenses to maximize cash back. That may mean repeating the same bonus categories each quarter if they are still offered. And to make your rewards count, pay your bill in full to prevent interest charges from eating into your rewards pot.

» MORE: Full review of the U.S. Bank Cash+® Visa Signature® Card

Set activation reminders

As with most other rotating-bonus-category cards, the U.S. Bank Cash+® Visa Signature® Card requires that you "activate" or "opt in" to new bonus categories every quarter to earn the 5% bonus. You may want to set up free activation reminders (via text or email) with U.S. Bank.

You can activate categories 45 days before the next quarter starts, and you have until the last five days of the quarter to make your selections. But don't wait until the last minute. You won't start earning 5% back until three business days after activation, and unlike the competing Chase Freedom® product, this card won't let you earn retroactive rewards for the quarter.

For maximum flexibility, open a U.S. Bank deposit account

The U.S. Bank Cash+® Visa Signature® Card allows you to redeem rewards for statement credit, as do most other cash-back cards. But if you want literal "cash" back in the form of a direct deposit, you'll need a U.S. Bank checking, savings or money market account.

Actual cash back is more flexible than statement credit. Make sure you can meet the minimum bank account requirements to avoid maintenance fees, or else it may not be worth the cost.

You can also redeem rewards for U.S. Bank Visa rewards cards, but unlike with statement credit and direct deposit, there's a minimum required redemption of $20.

» MORE: NerdWallet's best U.S. Bank credit cards

Pair it with another credit card

The U.S. Bank Cash+® Visa Signature® Card offers a lot, but that doesn't mean it's the best payment option for all purchases. If you travel frequently or tend to spend a lot in areas that don't always line up with the card's lists of bonus categories, you can pair the card with another to maximize value.

Use a flat-rate credit card for non-bonus categories: Instead of earning the low 1% back on all non-bonus-category purchases, you could put those purchases on a flat-rate card like the Citi Double Cash® Card. It earns 2% back on everything: 1% when you make a purchase, and 1% when you pay it off. The annual fee is $0.

Use a travel credit card for purchases abroad: The U.S. Bank Cash+® Visa Signature® Card charges a foreign transaction fee of 3% on purchases, so if you travel internationally, you'll need a backup payment method to avoid that fee. Foreign transaction fees are common among cash-back cards, but you can find some that don't charge them, like the HSBC Cash Rewards Mastercard® credit card.

Or you could opt for a travel card; the best ones charge no foreign transaction fees.

» MORE: NerdWallet's best no foreign transaction fee credit cards

Plan your sign-up bonus

The U.S. Bank Cash+® Visa Signature® Card offers new cardholders a $200 rewards bonus after spending $1,000 in eligible purchases within the first 90 days of account opening.

That's decent for a $0-annual-fee card, but make sure you'll be able to meet the spending requirement through your day-to-day budget. That is, don't overspend just to get a sign-up bonus.

You may want to plan your application around a high-expense month or a special occasion such as a birthday, holiday, wedding or a big move.

» MORE: NerdWallet's best credit card sign-up bonuses

Use your Visa Signature Benefits

Your U.S. Bank Cash+® Visa Signature® Card packs Visa Signature benefits that can offer additional value on top of rewards. As part of this program, you’ll get retail and travel protections such as extended warranty protection and auto rental collision insurance, discounts, digital tools and more. A few noteworthy discounts include: